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Iraq forecasts $70-$80 oil price

03 June 2010

Iraq has said it expects international oil prices to fluctuate between $70 and $80 per barrel, Reuters has reported. "The price is not decreasing very much. Our expectation is that the oil price will not decrease to less than $65 to $70," deputy oil minister, Abdul Kareem Luaibi told reporters at a conference in Baghdad. "According to our expectation, the price will fluctuate between $70 and $80," he said. "Although we consider it unfair, it is acceptable at the current time."

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